It’s pretty simple with housing…Remember Econ 101, Supply and Demand? Well, housing prices decline until people create more demand than immediate supply (foreclosures). House Prices Still Have Another 10%-20% To Fall, Says Gary Shilling Posted Jun 16, 2010 11:30am EDT by Henry Blodget A year ago, house prices finally stopped collapsing after two years of [...]
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Monthly Archives: June 2010
Central Banks Join The Gold Rush
I mentioned this would happen sooner rather than later. This shouldn’t come as any big surprise. Watch the money. NEW YORK (CNNMoney.com) — Foreign governments have been getting in on the recent gold rush, driven by continued fears about Europe’s debt crisis and the pace of the global economic recovery. Those concerns have been [...]
The Paradox of a Housing Recovery
According to the article below, US Home Foreclosures for residential real estate reached a record for the 2nd consecutive month in May. This is “big news” in the sense that we’ve been told that the economy has turned the corner. Why is this? The mainstream media typically applies “Management of Perspective Economics” while certain economic [...]
The Success And Wisdom Of John Wooden
I’ve always been impressed with the success of the legendary UCLA basketball coach John Wooden. For those not familiar, John Wooden was the head coach of the UCLA men’s basketball team from 1948 to 1975. The John Wooden era is unrivaled in terms of national championships. Wooden won 10 national championships in 12 seasons. [...]
U.S. Debt Poised To Exceed Annual Economic Output
The following article appeared in Bloomberg on June 4th. You can not cure a problem that was brought on by too much debt by spending more. This is not a political statement but simply an economic reality. If you were a home buyer making $50,000 per year and you’re in foreclosure and headed into bankruptcy, [...]
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